Use the following information to calculate the estimated closing inventory at cost by using the retail method.

Item	At Cost	At Retail
Cost of Goods Sold
Opening Inventory	$2,900	$5,800
Purchases	$43,000	$92,000
Cost of Goods Available for Sale	$45,900	$97,800
Sales at Retail		$47,900
Closing Inventory at Retail		$49,900

Do not enter dollar signs or commas in the input boxes.

Round the Cost-to-Retail Ratio to 1 decimal place (i.e. 72.3%).

Cost-to-Retail Ratio = Answer

%

Round your answer to the nearest whole number.

Closing Inventory At Cost = $Answer